Sunoco LP (SUN) Shares Sold by Pentwater Capital Management LP
Pentwater Capital Management LP decreased its position in Sunoco LP (NYSE:SUN) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,000 shares of the oil and gas company’s stock after selling 25,000 shares during the quarter. Pentwater Capital Management LP owned 0.07% of Sunoco worth $2,488,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Sunoco by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 1,450,389 shares of the oil and gas company’s stock valued at $44,440,000 after purchasing an additional 173,588 shares during the period. Goldman Sachs Group Inc. raised its position in Sunoco by 1.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,340,350 shares of the oil and gas company’s stock valued at $41,028,000 after purchasing an additional 17,894 shares during the period. Harvest Fund Advisors LLC raised its position in Sunoco by 26.6% in the third quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock valued at $41,659,000 after purchasing an additional 281,414 shares during the period. Northwestern Mutual Investment Management Company LLC purchased a new stake in Sunoco in the second quarter valued at approximately $5,843,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Sunoco by 25.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,559 shares of the oil and gas company’s stock worth $4,091,000 after acquiring an additional 26,922 shares during the period. 26.33% of the stock is currently owned by institutional investors.
Shares of Sunoco LP (NYSE:SUN) traded down $0.33 during mid-day trading on Monday, hitting $29.16. 361,100 shares of the company were exchanged, compared to its average volume of 589,757. The company has a current ratio of 4.02, a quick ratio of 3.75 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $3,379.41, a P/E ratio of 17.25 and a beta of 0.56. Sunoco LP has a 12-month low of $21.90 and a 12-month high of $32.67.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid a dividend of $0.8255 per share. The ex-dividend date was Monday, November 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 11.32%. Sunoco’s payout ratio is currently -41.30%.
A number of analysts have recently weighed in on SUN shares. Zacks Investment Research raised Sunoco from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, November 16th. Robert W. Baird reaffirmed a “buy” rating and set a $36.00 price objective on shares of Sunoco in a research report on Friday, November 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 price objective on shares of Sunoco in a research report on Tuesday, October 10th. BidaskClub raised Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $30.00 price objective (up previously from $29.00) on shares of Sunoco in a research report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $31.50.
In related news, Director Stephen Pearce sold 70,000 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $0.43, for a total transaction of $30,100.00.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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